Pros
I served as a board member of this company and worked closely with the CEO for several years. The board was well aware of the company’s financial situation and spending habits and up until the last days before the company folded, it was believed that a deal was on the table and was going to happen. The company had a very ambitious but clear product roadmap and many factors contributed to the failure of the company including intense competition. The majority of the money raised was deployed to hire great employees. Lior Tamir and the other C-Suite members deferred their salary for the 6 months prior to the company folding and Lior Tamir personally contributed funds to the last company payroll as it was believed that the institutional investors were going to provide a cash injection to see through an acquisition that was on the table.
Cons
At the end of the day, this was a startup with its obvious associated risks.